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Ramco Cements - Capex nearing completion; to start deleveraging - ICICI Securities

Ramco Cements - Capex nearing completion; to start deleveraging - ICICI Securities Posted On: 2021-02-03 23:41:34 (Time Zone: Arizona, USA) The Ramco Cements (TRCL) Q3FY21 EBITDA increased 96% YoY to Rs4bn, broadly in-line with estimates. Realisation declined higher at 8% QoQ (vs our estimate of 6.4% QoQ decline) offset by lower cost/te. Volumes declined 8% YoY to 2.61mnte. Accordingly, cement EBITDA/te more than doubled YoY to Rs1,508/te (I-Sec: Rs1,453/te). TRCL s capacity addition by 40% would complete over next six months and company would start deleveraging from FY22E. The expansions would drive market share gain and provide enough levers to contain cost escalations, in our view. We maintain our FY22E-FY23E EBITDA; although raise our target price to Rs1,050/sh (earlier: Rs960) based on 13x FY23E EV/E on half-yearly rollover. Maintain BUY. Key risk: lower than expected demand/ prices.

Nifty needs to hold 14,100 to remain in uptrend: Gaurav Garg of CapitalVia

Market traded with volatility but managed to recover from intra-day lows of 14,040.10 on Wednesday after the Nifty50 index witnessed sharp correction early on. Nifty closed at 14,146.30, slashing 53.20 points. However, market breadth seems to be in favor of the bulls. Metal, realty & financial services stocks traded with positive sentiments whereas IT, FMCG and pharmaceutical stocks closed with red mark. Nifty bank closed at 31,797.90 adding 75.60 points from the previous day s closing. As per weekly option data, significant call writing on higher strikes ranging from 14,200 to 14,300 is witnessed which shows Nifty might take resistance in the zone of 14,200 as maximum put OI placed here. We can witness profit booking only if Nifty breaks level of 14,000. Therefore, traders should try to create long position keeping close eye on 14,000.

Cement Market: Comprehensive study explores Huge Growth by 2026| JK Lakshmi Cement, Orient Cement, The Ramco Cements

Cement Market: Comprehensive study explores Huge Growth by 2026| JK Lakshmi Cement, Orient Cement, The Ramco Cements
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ICRA assigns rating to The Ramco Cements Ltd s Commercial Paper

ICRA assigns rating to The Ramco Cements Ltd s Commercial Paper Posted On: 2020-12-16 01:34:48 (Time Zone: Arizona, USA) The Rating Committee of ICRA, after due consideration, has assigned [ICRA]AA+ (pronounced ICRA double A plus) rating to the Rs. 300.00 crore Non-Convertible Debenture (NCD) programme of The Ramco Cements Limited. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The modifier + (plus) appended to the rating symbol, indicates its relative position within the rating category. The outlook on the long-term rating is Stable. Shares of The Ramco Cements Limited was last trading in BSE at Rs.848 as compared to the previous close of Rs. 836.55. The total number of shares traded during the day was 9808 in over 469 trades.

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